Good evening. Thanks in advance :)

1. In 2015, Karen Company acquired a land containing ore for a total cost of Php 60,000,000. Immovable tangible equipment costs totaled Php 5,000,000. Geologist estimates that the total units estimated to be extracted is 2,000,000. It is estimated that 200,000 units will be extracted each year during the useful life of the wasting assets. The immovable equipment has a 15 years useful life. Actual units extracted during the years 2015 to 2017 totaled 620,000 units. In 2019, the company resumed operation and there were 150,000 units extracted. Required: Based on the above facts, answer the following: 1. How much is the 2017 accumulated depletion of the immovable equipment? 2. How much is the 2018 depreciation of the immovable equipment? 2. Karen Company provides the following balances at the end of 2018? 1. Mineral Deposit, cost- Php 20,000,000 Accumulated Depletion 7,000,000 3. Ordinary Share Capital 5,000,000 4. Share Premium 2,000,000 Capital Liquidated (800,000) 6. Accumulated Profits - free portion 9,000,000 7. Accumulated Profits - appropriated for contingencies 800,000 8. Inventory of Resource Deposit (120,000 units) 1,440,000 Depletion Rate per Unit Php 6 Required: How much is the maximum amount of dividends that can be declared by Karen Company 3. On January 1, 2015, Karen Company bought a piece of land worth Php 2,600,000. The company business model is to buy and sell land. On February 28, 2018, the company decided to lease the land under an operating lease to another company. The relevant estimated selling price and costs to sell of the inventories is as follows: Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Selling Price Php 2,650,000 Php 2,750,000 Php 2,800,000 Php 2,880,000 Costs to Sell Php 150,000 Php 120,000 Php 100,000 Php 130,000 Required: Based on the above facts, answer the following: 1. What is the carrying amount of the inventory as of December 31,2017 statement of financial position? 2. How much should be initially recorded as cost of the investment property if it will be accounted using the cost model? 3. How much is the gain (loss) on transfer to be recognize if the investment property will be accounted using the cost model? 1. How much should be initially recorded as cost of the investment property if it will accounted using the fair value model? 5. How much is the gain (loss) on transfer to be recognize if the investment property will be accounted using the fair value model? 4. Karen Company engaged your services to compute for the goodwill in the purchase of another entity which provided the following: Year Net Income Net Assets 2016 Php 1,000,000 Php 3,900,000 2017 Php 1,250,000 Php 4,350,000 2018 Php 1,950,000 Php 4,500,000 Goodwill is measured by capitalizing excess earnings at 25% with normal return on average net assets at 20%. How much is the purchase price? 5. During 2018 Karen Company incurred costs to develop and produce a computer software product as follows: Completion of detailed program design or working model Php 500,000 Cost incurred for coding and testing to establish technological feasibility 10,000 Other coding cost after establishment of technological feasibility 1,000,000 Other testing cost after establishment of technological feasibility 750,000 Cost of producing product masters 1,250,000 Duplication of computer software and training materials from product master 1,500,000 Packaging product 250,000 Required: Based on the above, answer the following: 1. In the December 31, 2018 statement of financial position, what amount should be capitalized as software cost subject to depreciation? 2. In the December 31, 2018 statement of financial position, what amount should be reported as inventory? 3. Assuming the revenue method is used in the amortization and revenue for the year amounted to Php 10,000,000 and total expected revenue is Php 40,000,000, how much is the amortization for the year